India's leading stock exchange, BSE said on Wednesday that it has launched 'BSE StAR MF' app to increase participation and help its mutual fund distributors process transactions faster.
"BSE StAR MF mobile app supports real-time client registration and paperless transactions, creates and uploads mandate for SIPs, generates the basket of multiple orders, tracks and allows the distributor to analyse his business at his fingertips," the exchange said in a release.
The app is available for download on the Google Play Store. Users can sign up for the app by providing the member identification number, it added.
"The launch of the app would further provide comfort of doing business to our 24,000 members. This app would not only increase their productivity, but would also enable IFAs (Independent Financial Advisors) to take their business anywhere, anytime," said Ashish Chauhan, BSE Chairman and Managing Director.
The mobile application will be made available to individual investors shortly, he said.
BSE StAR MF, the exchange's mutual fund platform is presently available to assist distributors purchase and redeem mutual fund units on behalf of their clients.